Residents of Québec can look forward to C$2.5 billion ($1.93 billion; €1.74 billion) of investment over the next three years in their public transit and water/wastewater sectors thanks to an agreement reached between their provincial and federal governments.
The total amount is nearly equally split, with the federal government providing C$1.2 billion, while the balance will be contributed by the province of Québec and its municipalities.
“In practical terms, nearly C$924 million in federal funding will go to public transit projects, while $364 million will be earmarked for projects related to clean water and wastewater treatment,” according to a statement issued by Prime Minister Justin Trudeau’s office.
While it was not clear how funds from the province and municipalities will be distributed between the two sectors, Trudeau’s office noted that the C$2.5 billion agreed is in addition to the C$88.7 billion of investments Québec plans to invest in its infrastructure over the next 10 years.
“Québec is the first province to conclude its agreement with the federal government regarding these two funds,” Québec Premier Philippe Couillard said, referring to the Public Transit Infrastructure Fund and the Clean Water and Wastewater Fund.
“This comprehensive agreement between our governments will make it easier to choose and manage projects, will reduce administrative delays and will get shovels in the ground faster.”
The Canada-Québec agreement is part of the first phase of Investing in Canada, an ambitious infrastructure programme Trudeau announced shortly after assuming office last November, which aims to invest C$120 billion in the sector over the next decade.
Phase 1 will provide over C$10 billion in investments to support public transit systems, green infrastructure projects and social infrastructure schemes, according to the statement. Details regarding Phase 2 will be announced over the next year.